The company has already tapped investment banks Goldman Sachs Group and JPMorgan Chase to help with its latest fundraise and to lead its preparations for an IPO eventually.
Stripe, which is aiming to turn profitable before it lists shares on stock exchanges, is raising capital because it needs to cover a big tax bill associated with restricted stock units (RSUs) of employees that are set to expire soon, the sources said.
Goldman Sachs has also been setting up special purpose investment vehicles to offer wealth management clients opportunities to invest in Stripe, one of the sources said. Bloomberg first reported Goldman’s offering on Thursday.
Stripe and Goldman Sachs declined to comment.
Founded in 2010 by Irish brothers Patrick and John Collison, Stripe builds payment software solutions that allows merchants to accept digital payments in different currencies.
It processed about $14.4 billion in gross revenue in 2022, compared to about $11.7 billion in 2021, the sources cited above said.
Source: Reuters
